Every person licensed under this chapter shall keep and provide accurate books and records of account of his operations at his place of business in the city for a minimum of three years.
Upon request of the commissioner, licensees must submit requested financial reports or documents within three business days, and the commissioner reserves the right to audit the finances and reported data of any licensee.
The commissioner may by rule require licensees to file an annual financial report. The commissioner may by rule specify the form, format and deadline for taxicab medallion holders to submit annual financial reports. Such financial reports may include, but are not limited to: a profit and loss statement for the preceding calendar year, showing all his earnings and expenditures for operation, maintenance and repair of property, depreciation expense, premiums paid for workers compensation and public liability insurance, and taxes for unemployment insurance and social security, and all state and local license fees, property taxes and federal income taxes, and a balance sheet taken at the close of said year.
The commissioner, or the authorized committee of the city council, shall have access to the property, books, contracts, accounts and records during normal business hours at said place of business, for such information as may be required for the effective administration and enforcement of the provisions of this chapter, or for the adoption of any ordinances, rules or regulations affecting taxicab operations.
(Added Coun. J. 1-18-12, p. 19118, § 1)